Tax the rich.

[Whiskeydeltadeltatango]

Anyone about ready for one of those tax hikes Mr. Biden ran on? Seems to me like the guy has spent more money than he will every actually be able to collect, and more importantly, hasn't really made an attempt to try. Last week was the 5.4(?) Trillion dollar idea, again under the guise the rich would pay. Seems to me like he might want to impose the tax, collect some money, and then spend.


Thoughts?

 

[Fijimn]

Anyone about ready for one of those tax hikes Mr. Biden ran on? Seems to.me like they guy has spent more money than he will every actually be a le to collect and more importantly hasn't really made an attempt to try. Last week was the 5.4(?) Trillion dollar idea, again under the guise the rich would pay. Seems to me like he might want to impose the tax, collect some money, and then spend.


Thoughts?

In approximately 9 month there will be the red wave as predicted and, thus, I would anticipate cutting taxes on the rich whilst increasing spending

 

[bhawk24bob]

was really hoping this would be a pic of AOC's ass

 

[GOHOX69]

I have to pay both fed and state tax. I am not rich. So umm wtf.

 

[WDSMHAWK]

I agree Biden running on popular Dem ideas and being a Center-Right President has been disappointing.

The country needs a far left President for a change.

 

[NCHawk5]

I agree Biden running on popular Dem ideas and being a Center-Right President has been disappointing.

The country needs a far left President for a change.

Haha yeah that’s a great idea. Please elect one, your party won’t see the office again in my lifetime if that happens.

 

[INXS83]

I agree Biden running on popular Dem ideas and being a Center-Right President has been disappointing.

The country needs a far left President for a change.

Pegged the sarcasm meter.

 

[Titanhawk2]

If you're going to increase taxes, increase them. You're already spending what don't have. To propose even more spending and say you need to tax more to do it, just proves how stupid you think the public is.

 

[Derekd3408]

From what I've gathered, the middle class did the heavy lifting in 2021. I don't know anyone who paid less in taxes, and about 90% of people I've talked with paid more. My tax guy said that was pretty much on par with what he's seen.

 

[IA_HAWKI]

Haha yeah that’s a great idea. Please elect one, your party won’t see the office again in my lifetime if that happens.

Im game. Lets get a progressive agenda pushed through.

If this is how you things will shake out, republicans should be ok with taking a short term hit to let it play out if it assures election success throughout your lifetime. Let the results speak for themselves.

lets actually play ball with this political football

 

[NCHawk5]

Im game. Lets get a progressive agenda pushed through.

If this is how you things will shake out, republicans should be ok with taking a short term hit to let it play out if it assures election success throughout your lifetime. Let the results speak for themselves.

lets actually play ball with this political football

I’m serious, let one in. A far left or far right agenda would both be a disaster politically. This country is moderate.

 

[RonaldMexico]

In approximately 9 month there will be the red wave as predicted and, thus, I would anticipate cutting taxes on the rich whilst increasing spending

Which is why it is impossible to take republicans seriously when it comes to fiscal issues. Trumpsters that love to talk about the strength of the economy under him never want to acknowledge the deficits he ran up.

 

[IA_HAWKI]

I’m serious, let one in. A far left or far right agenda would both be a disaster politically. This country is moderate.

Im game,
Lets get a progressive agenda passed. They wont do it because the cons don’t want to lose the boogeyman and corporate dems would lose the progressive talking points they have no interest in following through on when on the campaign trail

 

[CarolinaHawkeye]

George HW Bush realized the error of the Reagan thinking tax cuts will pay for itself and the increased spending and lost his job because of it. Since then, no one will actually touch the situation. Unfortunately it's only gotten much worse.

 

[Whiskeydeltadeltatango]

Which is why it is impossible to take republicans seriously when it comes to fiscal issues. Trumpsters that love to talk about the strength of the economy under him never want to acknowledge the deficits he ran up.

Donald Trump was NOT a fiscal conservative.

 

[Whiskeydeltadeltatango]

George HW Bush realized the error of the Reagan thinking tax cuts will pay for itself and the increased spending and lost his job because of it. Since then, no one will actually touch the situation. Unfortunately it's only gotten much worse.

They sure do love to talk about it though.

 

[onlyTheObvious]

Those in the know realize the money that needs to be taxed isn’t exactly a regular paycheck joe blow gets from the rock quarry every two weeks.

they need to target things rich people spend money on and that probably can be hidden with corporations. “Not my plane/boat/vacation home. It’s the company’s”.

figuring out how to only tax the truly wealthy isn’t easy.

 

[swagsurfer02]

From what I've gathered, the middle class did the heavy lifting in 2021. I don't know anyone who paid less in taxes, and about 90% of people I've talked with paid more. My tax guy said that was pretty much on par with what he's seen.

I’m with you…….taxes for 2021 suuuuuuucked!!! My return amount put wifey in a bad mood.

 

[CarolinaHawkeye]

Those in the know realize the money that needs to be taxed isn’t exactly a regular paycheck joe blow gets from the rock quarry every two weeks.

they need to target things rich people spend money on and that probably can be hidden with corporations. “Not my plane/boat/vacation home. It’s the company’s”.

figuring out how to only tax the truly wealthy isn’t easy.

Just one small item, but before Reagan tax cuts, one could only deduct mortgage interest on your main residence. But I do think I remember, albeit very vaguely, being able to deduct all interest paid.

 

[Moral]

I would hate to be a billionaire in the US.

 

[bunsen82]

Anyone about ready for one of those tax hikes Mr. Biden ran on? Seems to.me like the guy has spent more money than he will every actually be a le to collect and more importantly hasn't really made an attempt to try. Last week was the 5.4(?) Trillion dollar idea, again under the guise the rich would pay. Seems to me like he might want to impose the tax, collect some money, and then spend.


Thoughts?

You won't have to pay it so don't worry about. However I will likely have to advise my clients and make plans for myself on potential tax avoidance or ways to lower tax burden. Affecting just a few of my clients.

The tax laws would likely affect more than just billionaires but will have to wait and see.

 

[Whiskeydeltadeltatango]

You won't have to pay it so don't worry about. However I will likely have to advise my clients and make plans for myself on potential tax avoidance or ways to lower tax burden. Affecting just a few of my clients.

The tax laws would likely affect more than just billionaires but will have to wait and see.

We keep spending money with reckless abandon and not taking anything in and I sure as shit will feel some of the cost.

 

[onlyTheObvious]

Just one small item, but before Reagan tax cuts, one could only deduct mortgage interest on your main residence. But I do think I remember, albeit very vaguely, being able to deduct all interest paid.

I think the deduction for mortgage interest should be completely eliminated.

the standard deduction was recently increased to the point where many can’t even deduct mortgage interest.

if you can’t afford it, you can’t afford it. Uncle Sam should be part of the equation.

 

[seminole97]

You won't have to pay it so don't worry about.

Au contraire, inflation is a regressive tax.

The law of supply and demand is not to be conned. As the supply of money (of claims) increases relative to the supply of tangible assets in the economy, prices must eventually rise. Thus the earnings saved by the productive members of the society lose value in terms of goods. When the economy's books are finally balanced, one finds that this loss in value represents the goods purchased by the government for welfare or other purposes with the money proceeds of the government bonds financed by bank credit expansion. - Alan Greenspan.

 

[bunsen82]

We keep spending money with reckless abandon and not taking anything in and I sure as shit will feel some of the cost.

Tell that to your republican nominees, they have spent as much as anyone. Trump was essentially going to do the second stimulus. Other than the 3rd one there isn't a whole lot of difference. Both parties need much more fiscal discipline and I don't need to here crap from Republicans, who want to keep lowering tax rates and spend just as much. As least democrats appear to want to try to have a balanced budget by creating a few more tax dollars.

 

[Whiskeydeltadeltatango]

Tell that to your republican nominees, they have spent as much as anyone. Trump was essentially going to do the second stimulus. Other than the 3rd one there isn't a whole lot of difference. Both parties need much more fiscal discipline and I don't need to here crap from Republicans, who want to keep lowering tax rates and spend just as much. As least democrats appear to want to try to have a balanced budget by creating a few more tax dollars.

Trump was not a fiscal conservative.


Talk is cheap, they talk about wanting to tax the rich and don't actually do it. Meanwhile They spend their ass off. Biden is going crush Trumps(not a fiscal conservative) spending and debt numbers. He is throwing around much much larger bills and doesn't actually tax people. That's kinda the point of the thread. At some point I do expect him to make a tax on some obscure portion of the Super rich. He will recover about 10 cents(over thr next 10 years) for every dollar he has spent up to that point and claim it as a major victory.

 

[GOHOX69]

I’m with you…….taxes for 2021 suuuuuuucked!!! My return amount put wifey in a bad mood.

Join the club!

 

[binsfeldcyhawk2]

George HW Bush realized the error of the Reagan thinking tax cuts will pay for itself and the increased spending and lost his job because of it. Since then, no one will actually touch the situation. Unfortunately it's only gotten much worse.

Seminal moment....

 

[bunsen82]

Trump was not a fiscal conservative.


Talk is cheap, they talk about wanting to tax the rich and don't actually do it. Meanwhile They spend their ass off. Biden is going crush Trumps(not a fiscal conservative) spending and debt numbers. He is throwing around much much larger bills and doesn't actually tax people. That's kinda the point of the thread. At some point I do expect him to make a tax on some obscure portion of the Super rich. He will recover about 10 cents(over thr next 10 years) for every dollar he has spent up to that point and claim it as a major victory.

Please put pen to paper, how much more has been spent than what republicans would have done in power, and 2. why are you upset about new tax laws that aren't even going to effect you which will offset some of the spending and reduction in taxes from the tax bills that decreased tax burdens. Honestly we should just repeal the tax cuts and move on, while coming to a middle ground on business taxes.

 

[seminole97]

George HW Bush realized the error of the Reagan thinking tax cuts will pay for itself and the increased spending and lost his job because of it.

Reagan’s argument was specific, and correct.
The Laffer Curve is the recognition that for a particular total of revenue two tax rates will achieve it.

Higher rates stifle economic activity. People look at confiscatory tax rates and elect to avoid the taxable event. Consequently, a high rate can result in low total collections. Conversely, a lower rate is more likely to be deemed bearable by the payer, and so they’ll engage in the taxable activity that they wouldn’t have at the higher rate.

The 1986 tax reform further reduced rates and consolidated brackets, increased deductions and removed 6 million people from the income tax rolls, and tax revenue was even higher the next year.

 

[Whiskeydeltadeltatango]

Please put pen to paper, how much more has been spent than what republicans would have done in power,

I don't think a true fiscal conservative sends out the second and certainly not the third stimulus checks. I have long been on record to say I want to see how much of the trillion plus dollar infrastructure bill makes it to the ground. I think that Bill would have had a lot less pork if a Republican would have presented it. 1.2 trillion to china for test we didn't need would not have been spent. Taliban got money. It's impossible to know who would have done what but that's a decent list foe off the top of my head.

and 2. why are you upset about new tax laws that aren't even going to effect you which will offset some of the spending and reduction in taxes from the tax bills that decreased tax burdens.

Just because I'm not in an impacted tax bracket doesn't mean I'm not impacted by the spending. If we collect before we spend thst burden is less.

Honestly we should just repeal the tax cuts and move on, while coming to a middle ground on business taxes.

 

[WDSMHAWK]

Haha yeah that’s a great idea. Please elect one, your party won’t see the office again in my lifetime if that happens.

We just had 4 years of a far-right Republican in the White House, and if I had to bet today I'd say a Republican will win the White House in 2024 (partly because Dems have not delivered on the ideas that got them elected). So if the Trump clownshow can't tank a political party I really doubt a far left candidate can.

 

[Whiskeydeltadeltatango]

We just had 4 years of a far-right Republican in the White House, and if I had to bet today I'd say a Republican will win the White House in 2024 (partly because Dems have not delivered on the ideas that got them elected). So if the Trump clownshow can't tank a political party I really doubt a far left candidate can.

Out of curiosity what made him "far right"?

 

[NCHawk5]

We just had 4 years of a far-right Republican in the White House, and if I had to bet today I'd say a Republican will win the White House in 2024 (partly because Dems have not delivered on the ideas that got them elected). So if the Trump clownshow can't tank a political party I really doubt a far left candidate can.

Trump was not far right, try again.

 

[seminole97]

We just had 4 years of a far-right Republican in the White House, and if I had to bet today I'd say a Republican will win the White House in 2024 (partly because Dems have not delivered on the ideas that got them elected). So if the Trump clownshow can't tank a political party I really doubt a far left candidate can.

Your idea of a ‘far right Republican’ is someone who works with Pelosi and Schumer to get rid of the debt ceiling and then oversees a 4+ trillion dollar deficit?

Where on the spectrum do you place a Republican like Coolidge that lowers taxes, spending and debt?

 

[RileyHawk]

Out of curiosity what made him "far right"?

To start with, catering to white supremacist groups and QAnon.

 

[WDSMHAWK]

Out of curiosity what made him "far right"?

Let's see:
- Muslim ban
- Tax Cuts that favored the rich
- Rolled Back environmental protections
- Repealed Civil Rights guidlines/mandates
- Constantly flirted with Alt Right groups/militias


If you're saying he's not Far Right than God help this country.

 

[Jan Itor]

In approximately 9 month there will be the red wave as predicted and, thus, I would anticipate cutting taxes on the rich whilst increasing spending

How is that going to happen if Biden doesn’t sign the legislation?

 

[joelbc1]

Donald Trump was NOT a fiscal conservative.

However, Bill Clinton WAS! What might Bill Bounty say?????? "Ironic"?

 

[NCHawk5]

To start with, catering to white supremacist groups and QAnon.

How is that any different than catering to BLM riots?